Texas Employees Retirement System, Austin, committed a total of $367.5 million to seven alternative investment funds in December.
Five private equity funds were awarded an aggregate $272.5 million in commitments by the investment staff of the $25.6 billion pension fund, an ERS transaction report showed.
Three funds specializing in acquiring secondary private equity stakes received commitments, with $87.5 million going to Landmark Equity Partners XVI and $62.5 million to Landmark Co-Investment Fund II, a separate account. Both funds are managed by Landmark Partners for investment in leveraged buyouts in North America and Europe. Headway Capital Partners' HCP III-C fund received a $15 million commitment for investment in global special situations private equity secondary stakes.
Private equity buyout specialist funds Wind Point Partners VIII and HgCapital 8 received commitments of $65 million and £35 million ($42.5 million), respectively. The Wind Point fund will seek North American deals, and the HgCapital fund will concentrate on European opportunities.
The pension fund also committed a total of $95 million to two specialist private infrastructure funds, with $50 million allocated to Actis Energy Infrastructure IV (A) for investment in power infrastructure projects in emerging markets, and $45 million for Northern Shipping Fund III, which will provide private equity and mezzanine debt financing to the shipping and energy sectors and is managed by Northern Fund Management America.
